Workers at America's largest private employer will soon be getting raises.
Walmart announced last week that the average salary for store managers will go from $117,000 to $128,000 a year — a 9.4% increase. They will also be eligible for bonuses up to 200% of base salary, based on individual store sales and profit.
A spokesperson for Walmart told NBC News in an email that there are approximately 4,700 Walmart stores in the U.S., and that each store has a store manager.
Walmart said about 75% of its field management teams began their Walmart careers as hourly workers.
"Not only are you responsible for exceeding customer expectations day in and day out; each of you is the CEO of a multimillion-dollar business," Cedric Clark, executive vice president for Walmart U.S. store operations said in a release announcing the pay raise. "And you’re the driving force behind the development of our next generation of leaders."
Walmart also announced that planned pay increases going into effect in February will see the U.S. average hourly wage for Walmart's approximately 1 million hourly workers climb to more than $18.00 —up from $17.50 last year.
In a December appearance on CNBC, Walmart CEO Doug McMillon noted prices were dropping across a host of categories. That, he said, is creating an ambiguous sales outlook for Walmart in the first part of 2024 amid signs that while economic growth will likely slow this year, consumer spending has been holding firm.
“If we had been talking last spring or at the beginning of last year, I expected more softness by this time of the year than we’re actually experiencing,” McMillon said, referring to the end of 2023. But, he added, “next year’s a different story.”
“It’s going to be interesting to watch what happens in the general merchandise categories in the year ahead, because prices are so much lower,” McMillon said.
Rob Wile
Rob Wile is a breaking business news reporter for NBC News Digital.
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Walmart Raises Starting Pay; Redesigns Bonuses for Store Managers. Jan. 18, 2024, at 2:00 p.m. NEW YORK (AP) — Walmart Inc. is raising the starting base pay for store managers, while redesigning its bonus plan that will put more of an emphasis on profits for these leaders.
Which Walmart position pays most hourly? ›
What are Top 5 Best Paying Related Walmart Employee Jobs in California
| Job Title | Annual Salary | Hourly Wage |
|---|
| Delivery Walmart | $96,458 | $46.37 |
| Walmart Innovation | $93,110 | $44.76 |
| Driver Walmart | $84,195 | $40.48 |
| Walmart Corporate Office | $81,474 | $39.17 |
1 more rowWalmart's ability to absorb significant increases in its labor costs is limited by its ability to raise prices (very poor in today's retail environment) or lower the cost of its goods sold by forcing its suppliers to lower their prices (which would probably require them to lower the wages they pay).
What is the pay raise for 2024? ›
The Biden Administration has worked to reverse these trends, providing federal employees a 4.6 percent pay raise in 2023 and a 5.2 percent raise in 2024. Nonetheless, federal employee pay increases have failed to keep pace with rising labor and living costs.
Is Walmart laying off employees in 2024? ›
Walmart lays off hundreds of employees and requires others to relocate. Shoppers exit a Walmart store, on Feb. 21, 2024, in Englewood, Colo. Walmart on Tuesday announced layoffs affecting several hundred jobs at the retail giant's campus offices.
Is Walmart paying well? ›
Walmart's starting pay ranges from $14 to $19 per hour, based on store location. Walmart's website lists its average hourly wage for frontline associates at $17.50 per hour.
How much are Walmart bonuses? ›
For example, a full-time worker who's been with Walmart between one year and almost five years can earn a maximum bonus of $350 per year, while a 20-year full-time worker can earn a maximum bonus of $1,000, Walmart said. The plan will be available to 700,000 U.S. workers, the company said.
What happens after 90 days at Walmart? ›
You can start using the PTO you earn beginning on your 90th day with Walmart, and can use PTO as soon as you earn it. Your paid time off is divided into two buckets: regular PTO and Protected PTO. Regular full-time and part-time associates receive both types. Temporary associates only receive Protected PTO.
Does Walmart really pay 30 an hour? ›
Pay: Continued Investments in Higher Wages
The average U.S. hourly field associate now makes close to $18/hour. Walmart's starting hourly wage rates vary by region and role and have the following ranges: For store formats (e.g. Supercenter, Neighborhood Market grocery format): $14 to $32 per hour.
What is the best position to work at Walmart? ›
Top 5 Walmart Jobs in 2022:
- 1) Cashier / Front End Associate.
- 2) Sales Associate.
- 3) Fresh Food Associate.
- 4) Hourly Supervisor & Training.
- 5) People Lead.
- 2) Senior Product Manager-Walmart Brands.
- 3) Freight Handler.
- 4) Floor Clerical.
According to Walmart's standard policy, you will get your paycheck on a biweekly basis (an update from the weekly basis before 2023). However, once you subscribe to Instapay, a feature from the “Even” app, it is possible to request a partial advance payment once a week!
Is Walmart paying $15 an hour in 2024? ›
Along with salary increases for managers, comes an increase for the company's hourly workers. Clark, who started as an hourly worker in a Washington state Walmart, said the company will invest in its non-salary workers by increasing the hourly wage to over $18.
Is it true Walmart is paying $15 an hour? ›
The higher pay took effect in March 2021 for Walmart's personal shoppers and stockers. It raised wages for 425,000 employees, making their starting rates range from $13 to $19 per hour, based on the store's location and market.
Is Walmart changing their pay rate? ›
The new starting annual base wage will range from $90,000 to $170,000, moving the average up to $128,000. Previously, store managers were pulling in $65,000 to $170,000. According to Walmart, about 75% of store managers started on an hourly pay. The bonus program for the floor leaders also is being revamped.
What changes are coming to Walmart in 2024? ›
Big Changes Are Coming To Walmart In 2024
- Get ready to see more in-store ads. ...
- You can expect to find more parcel stations. ...
- Buy now, pay later is now possible at self-checkout lanes. ...
- Drone delivery is now an option in the Dallas-Fort Worth area. ...
- Managers' base pay and annual bonus program will be updated.
For associates who have worked with Walmart for one to almost five years, the maximum bonus can be $350 per year, while a 20-year worker can earn a maximum of $1,000. According to the company, the plan will be available to 700,000 U.S. associates.
Is Walmart bringing back bonuses? ›
Walmart is bringing back bonuses for U.S. store workers after scrapping its decades-old quarterly bonuses about two years ago.
